ASCAP reported that it distributed more than $1 billion to its members for the first time in 2017. The performing rights organization collected revenue of about $1.144 billion and distributed more than $1.007 billion last year. The group’s total revenue was up 8% on-year and distributions increased 10%.
Just in the United States, revenue from licensing efforts rose 11% to $846 million while distributions grew 15% to $723 million. ASCAP credited its domestic growth to greated revenue from multiple sources, including audio streaming services, audiovisual media, and radio.
“ASCAP is privileged to represent the creators of the world’s best-loved music,” CEO Elizabeth Matthews said. “ASCAP is securing a strong future for our members by successfully closing key licensing deals and launching innovative digital tools that will enhance the lives of our members and make it easier for licensees to do business with us. Our healthy 2017 financial results are proof positive that we are succeeding in our strategic transformation and our mission to support music creators and music publishers for a sustainable future in the digital economy.”